Goldman Sachs Houston & Dallas

10,000 Small Businesses is an investment dedicated to stimulating job growth and creating economic opportunity.

The program is based on the broadly held view of leading experts that this is best done by providing small business owners with a combination of practical business education, financial capital and business support services. To this end, Goldman Sachs and The Goldman Sachs Foundation have invested $500 million, disbursed in loan amounts from $50,000 to $400,000. Funds may be used to cover working capital, purchase equipment and inventory, buy another business, make tenant improvements, finance real estate, and engage in business-related construction. In Lift Fund’s service area, this program is available only in the Houston market.

Access to Capital: Community Development Financial Institutions (CDFIs) receive a combination of lending and philanthropy designed to increase the amount of growth capital available to small businesses in underserved communities.

Business Support Services: The program provides vital support services to small business owners through partnerships with national and local business organizations, professional services firms and the people of Goldman Sachs.

Eligibility

The program is directed at small business owners with limited resources whose businesses show potential for growth. Applicants must demonstrate a commitment to growing their business and creating jobs within their community. Additionally, they must be located in Houston, Chicago, Long Beach, Los Angeles, New Orleans or New York.

Eligible candidates will have:

business revenues between $150,000 and $4 million in the most recent fiscal year

been in operation for at least two years

at least four full-time employees

operations in economically disadvantaged areas

a business model that could scale to create more jobs

Key Loan Terms

The 10,000 Small Businesses loans are 5-year loans ranging from $50,000 to $400,000. The interest rate will be based on the three month LIBOR + 7.5%. Collateral is required.

A special Happy Birthday to Celina Peña, @LiftFundUS Chief of Advancement! We kicked off our week with a special breakfast to celebrate Lifters with Aug. birthdays. Hope everyone has a great week!! pic.twitter.com/iW11m49zza

Join us for an informational session that will provide an overview of the eligibility requirements and application process for the SBA Women-Owned Small Business Program. Learn how we can help your #smallbiz!
To register for free: bit.ly/2LBTHCOpic.twitter.com/8qkjKwNZqW